Trump Plans 10% Tariffs on Dozens of Countries This Week
President Trump is preparing to announce 10% tariffs on 'dozens of countries' this week, according to the Financial Times. The move comes as current 10% tariffs expire, and advisors have reportedly warned against it.
President Trump is set to announce 10% tariffs on a broad range of countries this week, per a Financial Times report. The new tariffs would replace existing 10% duties that are expiring.
Trump's advisors have cautioned against the move, citing risks of economic shocks similar to those experienced during the original trade war, especially with midterm elections approaching. The administration is also pursuing other investigations to expand legal authority for even higher tariffs.
The plan signals a renewed escalation in trade policy, with potential implications for global supply chains and inflation.
Source: The Kobeissi Letter